South Carolina Insurance Exclusions – Think Exclusively!

The responsibility of protecting your home and it’s contents from disasters and natural calamities is fulfilled by owning a South Carolina home insurance. An affordable and best policy to cover your home from financial crisis offers best of coverages and helps you come out from any destruction. Understanding of a home insurance policy is a must. With few exclusions mentioned below, you will know what needs to be covered under your policy.

Flooding: Most of the South Carolina home insurance policies do not cover damage occurring due to floods. However, other perils which are covered under your home insurance policy such as windstorm, hail etc if causes damage or allows water inside the building will be considered for claim. Flood insurance has certain limits imposed on every building type, residential houses have limit up to $250,000 for building coverage and $100,000 for personal property coverage. Premium rates depends on your location as to if the area is more prone to floods and limit opted on the coverage. The average cost implied on a flood policy in South Carolina is about $500. Flood insurance is given by the National Flood Insurance Program which will also protect against a tsunami.

Earthquake insurance: This insurance covers any physical loss occurring directly to the property. In normal terms, earthquake refers to shaking or trembling of earth which is caused by tectonic process, volcanic eruptions or other causes. Many insurance companies consider any chocks incurred within 72 hours as one earthquake period. Please note that earthquake insurance does not pay for the damages occurred due to erosion, volcanic eruption, land slides, tsunami etc, though this may lead to an earthquake.

Earthquake deductibles: A deductible is that amount which you agree to pay for even before your insurance company kicks in. Here, the earthquake insurance deductible is that percentage of amount of coverage but not the loss. In South Carolina, most home insurance companies sell the coverage with about 10 to 15 % of deductible. Higher the deductible lesser will be your premium rate and can also obtain you discounts on your policy.